CRM and customer data: Challenges of conducting business in digital economy

Abstract

Enterprises are facing difficulties in achieving and maintaining competitive ability amidst globalized markets. In the modern business environment, an effective CRM is an imperative for retaining customers. As CRM systems rely on customer data, it is important to secure data integrity. This paper thoroughly analyses the challenges of enterprises, CRM and customer data. The main goal of this paper is to provide an overview of existing literature and business practice in the domain of CRM. In addition, a model for improvement of CRM is developed. The model is based on the results of conducted review, and as such, it presents an approach towards enhancing CRM systems while taking into consideration the integrity of customer data.

Keywords

• crm
• customer data
• globalization
• digital economy
• data security